Second Quarter 2017 Conference Call

Ⓒ Quality Is Our Recipe, LLC ■ ■ ■ I Todd Penegor President & Chief Executive Officer Q2 Highlights 18th consecutive quarter of positive NA SRS NA SRS increase 3.2%; 3.6% on a two-year basis Global expansion continues; 35 global restaurant openings in Q2 Tron't mm Global system wide sales increase 4.6% in constant currencies Image Activation momentum continues; 36% of global system in new image Facilitated 294 Buy and Flips; including DavCo-NPC transactions Improvement of 940bps in adj. EBITDA margin to 36.2%* Company increases 2017 adj. EBITDA guidance* *See reconciliation of non-GAAP financial measures in the Appendix. Wendy's ( Windys SUALITY STANDA 8/9/2017 THE WENDY'S COMPANY | 6 3

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